U.S. market indexes were higher on Wednesday. For the day, the Dow Jones Industrial Average closed at 21,892.43 for a gain of 27.06 points or 0.12%. The S&P 500 closed at 2,457.59 for a gain of 11.29 points or 0.46%. The Nasdaq Composite closed at 6,368.31 for a gain of 66.42 points or 1.05%. The VIX Volatility Index was lower at 11.18 for a loss of -0.52 points or -4.44%.
Wednesday’s market movers
GDP and corporate profits were leading factors for market gains. Economic reports released on Wednesday included the following:
- The second estimate for GDP reported a seasonally adjusted annual growth rate for the second quarter of 3.0%.
- Corporate profits reported a year-over-year increase of 8.1% for the second quarter.
- The Mortgage Bankers Association’s mortgage applications index decreased 2.3% for the week.
- The ADP private sector employment report showed an increase of 237,000 jobs, above consensus of 185,000.
In the Dow Jones Industrial Average, the following stocks led gains:
Caterpillar (CAT, Financial) 1.32%
Microsoft (MSFT, Financial) 1.27%
In the broad market, materials and technology stocks led gains. The S&P 500 materials sector gained 0.74% and the S&P 500 technology sector gained 0.72%.
Small-cap stocks
In small-caps, the Russell 2000 Index closed at 1,391.41 for a gain of 7.73 points or 0.56%. The S&P 600 Small-Cap Index closed at 832.27 for a gain of 4.01 points or 0.48%. The Dow Jones Small-Cap Growth TSM Index closed at 8,488.70 for a gain of 67.73 points or 0.80%. The Dow Jones Small-Cap Value TSM Index closed at 9,418.40 for a gain of 47.98 points or 0.51%.
Other notable indexes
Other notable index closes included the S&P 400 Mid-Cap Index at 1,716.66 for a gain of 9.98 points or 0.58%; the S&P 100 Index at 1,087.92 for a gain of 4.51 points or 0.42%; the Russell 3000 Index at 1,452.39 for a gain of 7.25 points or 0.50%; the Russell 1000 Index at 1,361.17 for a gain of 6.74 points or 0.50%; and the Dow Jones US Select Dividend Index at 656.38 for a gain of 0.34 points or 0.05%.
